2009 was the start of the global period of an economic contraction where we see multi national corporations take on a slump, abatement, bust, decline, depression, diminution, lull, pause, retreat, withdrawal, bankruptcy, collapse in their financial standings!

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Nov 7, 2008

AMD Cuts further 500 Jobs

AMD has confirmed that it will cut around 500 jobs, distributed equally throughout its operations, in what the vendor described as a general cost-cutting measure.

No single unit is being targeted with the cuts, which will account for roughly three per cent of AMD's total workforce.

News of the layoffs is the latest in string of bad news for AMD and the technology industry as a whole. Businesses throughout the IT and consumer electronics sectors have been cutting jobs in anticipation of economic turbulence in the coming months.

AMD is also still trying to recover from its self-inflicted economic woes. Following its $5.4bn acquisition of graphics card specialist ATI in late 2006, AMD's fortunes took a turn for the worse.

The financial impact from the ATI buy, coupled with a delay in the development of new chips, allowed rival Intel to surge ahead in the market.